Supercuts 2008 Annual Report Download - page 260

SCHEDULE 1.01(a)
PRICING SCHEDULE
The Applicable Margin and Applicable Facility Fee Percentage shall be determined in accordance with the foregoing table based on the
applicable Leverage Ratio (as determined in accordance with the most recent annual audited or quarterly unaudited financial statements
delivered pursuant to Section 7.1 and the corresponding compliance certificate delivered pursuant to subsection 7.2(a) . (the " Financials ")).
Adjustments, if any, to the Applicable Margin or the Applicable Facility Fee Percentage shall be effective five Business Days after the earlier of
(a) the date on which the Company is required to file its Financials with the SEC and (b)(i) in the case of the annual audited Financials, 90 days
after the end of each fiscal year of the Company, and (ii) in the case of the quarterly unaudited Financials, 45 days after the end of each of the
first three quarters of each fiscal year of the Company; provided that if the Company fails to file any Financials on a timely basis, Level V shall
apply until such Financials are filed. Initially, Pricing shall be based on Level III.
If, as a result of any restatement of or other adjustment to Financials or for any other reason, the Lenders determine that (a) the Leverage
Ratio as calculated by the Company as of any applicable date was inaccurate and (b) a proper calculation of the Leverage Ratio would have
resulted in different pricing for any period, then (i) if the proper calculation of the Leverage Ratio would have resulted in higher pricing for such
period, the Company shall automatically and retroactively be obligated to pay to the Administrative Agent for the benefit of the Lenders,
promptly following demand by the Administrative Agent (accompanied by supporting materials (which may be in the form of Financials
prepared by the Company or the Company's independent auditors)), an amount equal to the excess of the amount of interest and fees that should
have been paid for such period over the amount of interest and fees actually paid for such period; and (ii) if the proper calculation of the
Leverage Ratio would have resulted in lower pricing for such period, the Lenders shall have no obligation to repay any interest or fees to the
Company; provided that if, as a result of any restatement or other event a proper calculation of the Leverage Ratio would have resulted in higher
pricing for one or more periods and lower pricing for one or more other periods (due to the shifting of income or expenses from one period to
another period or any similar reason), then the amount payable by the Company pursuant to clause (i) above shall be based upon the excess, if
any, of the amount of interest and fees that should have been paid for all applicable periods over the amount of interest and fees paid for all such
periods.
Level
Level I
Level II
Level III
Level IV
Level V
Leverage Ratio
≤
1.25 to
1.0
>1.25 to 1.0 and ≤
1.75
to 1.0
>1.75 to 1.0 and ≤
2.25
to 1.0
>2.25 to 1.0 and ≤
2.75
to 1.0
>2.75 to
1.0
Applicable Margin (bps)
32.0
41.0
50.0
60.0
82.5
Applicable Facility Fee
Percentage (bps)
8.0
9.0
12.5
15.0
17.5